Having an understanding of the PPI

Payment Protection insurance, commonly known as PPI is an additional product which is generally offered to the insurance policy holders in order to ensure loan repayment in adverse conditions such as if the borrower gets ill or losses his job or dies. This insurance product was introduced to provide support to the borrowers in critical situations but this product has been misused by the financial institutions and banks as they had been continuously selling it to the customers without their consent. Most of them are filing PPI Claims so that they can get back the fees and extra money paid by them. You can check out here to know the application process.